Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    Us-192 & St Johns Heritage Pkwy Melbourne, FL 32904

    For Sale
    Contact for pricing

    Prime Mixed-Use Development in Melbourne, FL

    Property size:
    350,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    361
    This exceptional mixed-use development, situated at the high-traffic intersection of US-192 (Space Coast Pkwy) and St. Johns Heritage Pkwy in Melbourne, Brevard County, Florida (zip code 32904), offers a unique investment opportunity. Phase 1 is now open, featuring new retail spaces, and additional multifamily parcels are currently under construction, slated for completion in 2024. The project encompasses a substantial 225-acre site, boasting a total of 350,000 square feet of retail space, including 50,000 square feet dedicated to a grocery store. A significant component of the development is the planned multifamily housing, with 900 units currently under development and a potential for up to 2,184 units in the future. Further expansion plans include over 500,000 square feet of proposed office space and up to 300 hotel rooms. Strategically located with excellent visibility from the Interstate, Space Coast Town Center is designed to serve the daily needs of the local workforce, nearby residents, and the broader Space Coast market, capitalizing on the area's thriving high-tech and STEM job sectors. This development presents a compelling opportunity to participate in a rapidly growing area with strong potential for long-term appreciation.

    Property Features for Us-192 & St Johns Heritage Pkwy

    General Information

    Property type
    Mixed-use properties
    Square Feet
    350,000 SF
    Lot Size
    9,801,000 SF

    Building Details

    Units
    900

    HighLights

    • 225‑acre site
    • 350,000 square feet of retail space
    • 50,000 square feet of grocery‑anchored space
    • 900 multi‑family units under development
    • Up to 2,184 total multi‑family units planned
    • Over 500,000 square feet of proposed office space
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.7155267
    Latitude
    28.0788239

    Nearby Similar for Sale

    • $757,997
      1,823 SF

      Historic Home in Arts District

      Restored 1928 home near Eau Gallie Arts District.
      1248 Highland Ave, Melbourne, FL 32935
      View Details
    • $545,000
      2,252 SF

      High-Income Multifamily Property in Melbourne

      Three-unit multifamily property with strong income potential in a prime location.
      158 Ct West, Melbourne, FL 32904
      View Details
    • $489,000
      2.51 Acres

      Equestrian Estate with Six-Stall Barn

      2.5-acre equestrian estate featuring a six-stall barn and updated utilities.
      3900 Miami Ave, Melbourne, FL 32904
      View Details
    • $1,700,000
      9,000 SF

      Historic Landmark in Downtown Melbourne

      9000 sq ft historic property with redevelopment potential.
      1824 S Harbor City Blvd, Melbourne, FL 32901
      View Details
    • $1,500,000
      4,948 SF

      Versatile Commercial Property in Melbourne

      Former nursing school suitable for educational, medical, or professional use.
      111 Scott St, Melbourne, FL 32901
      View Details
    • $1,499,000
      7,728 SF

      Melbourne Multi-Unit Investment Opportunity

      Eleven units in a prime Melbourne location with new roof and windows.
      89 NW Irwin Ave, Melbourne, FL 32904
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Prime Mixed-Use Development in Melbourne, FL
    Where is this mixed-use property located?
    The property is located at Us-192 & St Johns Heritage Pkwy Melbourne, FL.
    What are key features of this property?
    This property features: 225-acre site; 350,000 square feet of retail space; 50,000 square feet of grocery-anchored space
    Request Owner's contact information
    Us-192 & St Johns Heritage Pkwy Melbourne, FL 32904
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Us-192 & St Johns Heritage Pkwy
    Melbourne, FL 32904
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Us-192 & St Johns Heritage Pkwy Melbourne, FL 32904
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.